NEW YORK--(BUSINESS WIRE)-- Pfizer Inc. announced that it has settled its litigation against Mylan Inc. and Mylan Pharmaceuticals Inc. relating to Pfizer’s patents covering Detrol LA® (tolterodine tartrate) extended-release capsules.

As a result of this settlement, and past settlements related to these patents, Pfizer expects generic competition for Detrol LA® to commence in the United States no earlier than January 1, 2014, except in certain limited circumstances, and no later than March 1, 2014.

The terms of the settlement agreement are otherwise confidential.

A generic version of Detrol LA® has not been approved to date.

The company indicated that this settlement does not result in any change in its 2012 financial guidance previously updated on August 13, 2012.

DISCLOSURE NOTICE: The information contained in this release is as of September 7, 2012. Pfizer assumes no obligation to update forward-looking statements contained in this release as a result of new information or future events or developments.

This release contains forward-looking information relating to the anticipated commencement of generic competition for Detrol LA in the U.S. and relating to the Company’s previously provided financial guidance for 2012. Such information involves substantial risks and uncertainties including, among other things, the uncertainties and variables inherent in business operating and financial performance, including, among other things, competitive developments and general economic, political, business, industry, regulatory and market conditions and the other risks and uncertainties set forth in Pfizer’s Annual Report on Form 10-K for the fiscal year ended December 31, 2011 and in its reports on Form 10-Q and Form 8-K.